As we know, London is a very admired city in the world where everyone wants to settle. Not only do people desire to live there, but it’s also a great travel destination. According to Business Insider, London had almost 20,715,900 travelers visiting it in 2018, more than France and New York. People love it for various reasons. It has excellent infrastructure that’s anciently built. Along with that, it has modern and latest technologies there. Moreover, people don’t run out of entertainment in London. Whether day or night, London always gives its citizens enough entertainment outlets. We have many cafes, bars, clubs, restaurants, shopping malls, hangout places, parks, museums, galleries, and music concerts. Whoa! That’s a huge list. And there’s more to it.
How to Determine the cost of living in London?
The cost of living in London depends on several factors. If you are an adult, that’s different, and if you are a student, it would be different. London is an expensive place to live, no doubt. It’s subjective too. Both are different if you do a job or run a company there. The common thing in London is that it’s expensive. However, it also gives you a lot in return. The first bonus point of living in London is getting a high salary. No matter what your job is.
Moreover, the cost of living depends on how you live and where you live. As there are areas in every city which are high-quality ones, it would be expensive living there. If you choose a mediocre site, it would cost even less. Below, we’ll discuss a few areas of London and tell you how much it would cost you to live there. Along with that, we’ll discuss how much salary is enough for living in London an easy life. If you look forward to living in Luxury new development London to get a better standard of living, you can reach out to any good real estate agency.
1. Housing Prices
Housing prices depend on the area where you buy a house and the type of house you buy. When you purchase or rent a home in central London, it will be expensive. If you are a student and prefer to live alone, you can get a flat apartment of 1 bedroom for 375000 euros in Islington. Experts advise students to settle in Islington as it’s very convenient to travel to universities from there. Most universities are near to it. Moreover, you can share your room with a partner, so it will help you split the apartment’s rent. You can get a one-bedroom flat for 1800 euros per month’s rent.
If you live with your family and have kids, you can choose Richmond. It’s very suitable for people with families. You can purchase an apartment in Richmond for as little as 390000 of one bedroom. However, one-bedroom is not for those who live with families, but it’s still expensive. You can get a three-bedroom for approximately 7000000. Moreover, if you want to rent a house, you can get a two-bedroom for 3500 euros per month. If you’re going for a bungalow, you get 1250000 in a pleasant area.
2. Cost of Grocery and Shopping
You got a beautiful house, but what to eat? The price of vegetables like potatoes, tomatoes, and broccoli isn’t much. You can easily afford them unless you want to go on a non-vegetarian diet, so you’d be spending more. However, if you eat outside at restaurants and cafes, price is subjective. It depends on what you eat there. It can be rather expensive or not.
Moreover, if you daily dine out, go to clubs, bars and hang out, then it’d be expensive enough. However, it’s not a thing to worry about since if you have made it there to live in London, you’d be earning enough to pay the bills as well. Companies there pay good salaries. You can get chicken fillets 1Ib for almost 3 Euros and beef for 4 Euros. However, you can get fruit like apples and bananas for the same price as vegetables.
3. Transport Expense
Transport expense depends on how much travel you do daily. If you have a personal transport option for if you have, it would be a lot easier for you. You get a liter of petrol for 2 Euros. And usually, people don’t travel lots of kilometers daily. Therefore, going to work, coming back home and going to pubs, bars and supermarkets would not cost you much money if you travel via your transport. Moreover, London provides a very convenient, modern and beautiful train service. When you travel via London underground tube services, you pay a fee of approximately 5 Euros and 3 Euros for children.
4. Utility Bills
Utility bills are another expensive aspect of living in London after the house and accommodation. Electricity bills cost approximately 70 Euros per month. However, you can save electricity by switching off the mobile and laptop charges when not in use. Moreover, many people make the mistake of keeping chargers plugged even after removing their devices from them.
Drinking water approximately costs you 35 Euros per month.
You can choose from different internet service providers and an internet connection. However, Communityfibre provides you with a connection of 1gbps for 25 Euros per month, which is a great offer.